Snap – Earnings

Posted on | by Leon Hinde

SNAP:NYS is under Algo Engine buy conditions following the entry signal at $48 in late March.

The stock price jumped a further 7.5% in Friday’s session, after the company reported accelerating revenue growth and strong user numbers during the first quarter.

Q2 2021 Outlook

Revenue is estimated to be between $820 million and $840 million, compared to $454 million in Q2 2020.

Adjusted EBITDA is estimated to be between $(20) million and break-even, compared to $(96) million in Q2 2020.

Pinduoduo – Buy

Posted on | by Leon Hinde

PDD:NAS is now under Algo Engine buy conditions. The company is China’s largest agriculture and interactive commerce platform.

We expect buying interest to build above the $125 support level. Q121 earnings should show continued growth.

US Labor Markets

Posted on | by Leon Hinde

The recovery in the U.S. labor market appeared to stagnate for a second month, as non-farm payrolls increased by just 49,000 and December’s figure was downwardly revised to show 227,000 job losses, strengthening the case for further stimulus.

A break below 3,856 in the S&P500 will be negative for the momentum traders.

Amazon – Up 88%

Posted on | by Leon Hinde

AMZN:NAS is under Algo Engine buy conditions and is up 88% since being added to our US S&P100 model portfolio on 1/8/2019.

For the December quarter, AMZN posted record revenues of more than $125B, up a whopping 44% on the same time last year. AWS, (cloud services), had net sales of $12.7B with an operating income of $3.6B, more than half of the firm’s overall operating income.

Facebook – Algo Sell

Posted on | by Leon Hinde

NYS:FB is under Algo Engine sell conditions.

We’re seeing falls in daily usage but global growth in overall user numbers continues to increase.

The company warned about the impact from Apple’s privacy changes and called the latter a “significant competitor.” Recent trends suggest slower growth in its advertising business and we may see lower revenue numbers in the second half of 2021.

We will be watching Google/Alphabet numbers when they report later this week.

Biogen – Buy Signal

Posted on | by Leon Hinde

NYS:BIIB is under Algo Engine buy conditions and is a current holding in our US model portfolio.

Biogen is an NYSE listed biotech company specializing in the discovery, development, and delivery of therapies for the treatment of neurological disease to patients worldwide.

The stock rallied 11% overnight after the FDA accepted an application for Biogen’s experimental Alzheimer’s drug.

AbbVie – Buy Signal

Posted on | by Leon Hinde

AbbVie is now under Algo Engine buy conditions. We’re looking for buying support to build within the $85 – $95 range.

AbbVie reported Second-Quarter 2020 earnings with worldwide net revenues $10bn, an increase of 26% on a reported basis, or a decrease of 5% on a comparable operational basis, due to the COVID-19 pandemic.

AbbVie announced it completed its acquisition of Allergan, which was acquired on the 8th May, 2020.

Alexion – Algo Buy

Posted on | by Leon Hinde

Alexion Pharmaceuticals today announced that the company will report its financial results for the second quarter ended June 30, 2020, before the US financial markets open on July 30, 2020.

Alexion is a recent Algo Engine buy signal from the NASDAQ top 100 group of companies. We’ve added this to our portfolio and will review the upcoming result with close interest.